The peptide synthesis market is projected to reach USD 426.4 million by 2023 from USD 310.5 million in 2018, at a CAGR of 6.5% during the forecast period. Factors such as the increasing use of peptides in pharmaceutical drugs, increase in research activities and availability of funding for R&D, and the development of advanced peptide synthesizers are expected to drive the growth of the market.
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In this report, the peptide synthesis market has been segmented by product, technology, end user, and region. The product segment includes reagents and equipment. The equipment segment is expected to grow at the highest CAGR during the forecast period. Technological innovations, automation, and advancements in instruments; replacement of older equipment with new ones; increasing demand from the Asian market; and growing demand for synthesized peptides, are factors driving the growth of this market.
Based on technology, the peptide synthesis market has been segmented into solid-phase synthesis, liquid-phase synthesis, and hybrid & recombinant technology. The solid-phase peptide synthesis segment is the fastest growing technology of the peptide synthesis market. The wide range of advantages associated with the use of solid-phase synthesis, such as ease of operation, easy purification, short production cycles, high-level automation, and synthesis capabilities of long peptides in small quantities of amino acids are expected to increase the demand of this technology in the coming years.
By end user, the contract development and manufacturing organizations is the fastest growing end-user segment. The increasing demand for cost-effective peptide synthesis services in drug development activities and life science research is driving the growth of this end-sure segment.
Geographically, the peptide synthesis market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Asia Pacific is expected to register the highest CAGR in the peptide synthesis market. Growing R&D funding, increasing investments by pharmaceutical and biotechnology companies, and rising R&D activities in the region are expected to drive the growth of the market.
